Malawi's digital financial services DFS landscape continues to expand, with mobile money emerging as a key driver of financial inclusion and everyday transactions. According to the Reserve Bank of Malawi RBM National Payments System Report for the second quarter of 2025, the country's registered mobile money subscribers reached 20.1 million by the end of June 2025, up from 17.6 million in the previous quarter, representing a 13.95 percent increase. This milestone underscores the growing adoption of mobile money as a convenient, secure, and accessible payment platform across Malawi.
The gender composition of mobile money subscribers reflects a narrowing gap, with male subscribers accounting for 55.31 percent and females 44.69 percent of the total subscriber base, improving from 41.85 percent in the first quarter. While this demonstrates progress toward gender inclusivity, women remain underrepresented relative to their share of the population, highlighting the need for targeted financial inclusion initiatives to encourage wider adoption among female users.
Despite the growth in subscriptions, activity rates among mobile money users showed a decline during the quarter. The 90-day activity rate dropped to 52.14 percent from 56.32 percent, while the 30-day activity rate decreased to 40.46 percent from 43.47 percent in March 2025. The Reserve Bank of Malawi notes that this decline is concerning, as mobile money is a central tool for promoting financial inclusion, and urges industry stakeholders to intensify campaigns encouraging active usage.
